The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for IT Trailblazers Resources Pvt Ltd
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IT Trailblazers Resources Private Limited, part of the promoter group of Spice Lounge Food Works Ltd, sold 1,81,77,030 equity shares (2.61% of the company's total share capital) via an off-market transaction on June 19-20, 2025, described as Open Offer shares under a Share Purchase Agreement (SPA). Following this sale, the acquirer's holding in Spice Lounge Food Works dropped sharply from 2.68% (1,86,77,380 shares) to just 0.07% (5,00,350 shares). The target company is listed on BSE, Metropolitan Stock Exchange, and The Calcutta Stock Exchange, with a total equity share capital of around 69.71 crore shares. This indicates a significant reduction in promoter group exposure in the company.
The promoter group's effective stake has been slashed to a negligible 0.07%, signaling a near-complete exit by this promoter entity. This could raise concerns about reduced promoter skin-in-the-game and may weigh on retail investor sentiment regarding future ownership stability.